Rise in Index of Industrial Production in first five months

In the first five months of the year, the Index of Industrial Production (IIP) rose 4.2 per cent over the same period last year, according to a report released by the Ministry of Planning and Investment on May 25.

Inventory of some products still stood at a high level, a year-on-year increase of 29.4 per cent, especially cement, mortar (52 per cent), engine vehicles (56.5 per cent), motors (42.3 per cent) and beer (29 per cent).

Working at a factory

According to the report leased at the meeting, the total value of ODA agreements reached US$2.1 billion, while in five months the country attracted $5.33 billion in foreign investments, only 68.2 per cent of the same period last year, of which $4.5 billion was disbursed.

A total of 30,100 new enterprises were established nationwide in this period, with a total registered capital of VND190 trillion, resulting in a year-on-year decrease of 12.2 per cent in the number of enterprises and 3.6 per cent in capital volume.

At the meeting, a representative from the Ministry of Planning and Investment said that the economic situation has changed positively; however, it is not yet stable and lacks sustainability.

In future, attention must be paid to the domestic market, to increase demand, stimulate consumption and reduce inventories.

Source SGGP, Translated by Dan

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